Monday, February 23, 2015

Slowing global trade and US economy

The collapse of Baltic Dry Index and commodity price indexes are well documented. BDI is at historic lows and and CRB is at levels last seen in recession.

Baltic dry index and CRB commodity index


Both point to rapid deceleration of global and especially Chinese demand. Less attention is given US trade that is rapidly slowing. The exports are down which is natural given the global weakness:



More ominously, imports are also down:



Container volume in west coast ports is down:

Container volumes at Port of Long Beach

Overall, the picture painted by the trade numbers is negative. With leading indicators also down, 2015 may be less strong for US economy than predicted.

 

No comments:

Post a Comment